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- May 18, 2014
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We just passed the 100 customer mark and it seemed as good of a time as any to give an update.
Well - things are going in the right direction for the most part. We've been providing users access to the web app for around two months now and also released a bunch of neat, new features:
ninjaoutreach.com/new-social-search-features-added-to-ninjaoutreach-and-more/
ninjaoutreach.com/new-features-added/
I'm generally pretty hard on the product but I have to say it is starting to look really nice, and honestly even rival some of the competitors in the space that have been around for a few years (i.e BuzzStream). Occassionally, people even come to us after having looked at some very highend products like GroupHigh, and it doesn't always seem to be an obvious choice.
We are also seeing our metrics improve, specifically in July. The free trial to paid conversion has gone up to over 40% which tells us that people just like the product better. Churn is still higher than I'd like, but I think that will take a few months to come down. I suspect it generally lags behind the conversion rate going up, because it's the people now who convert and like the product who are more likely to be sticking around in the long run, I think.
We've hired another developer to work full time on the project and that is really keeping the pace of development strong. I'd say it's finally where it needs to be, which is good, because we can't afford anymore developers lol. The business still runs a negative every month. We're at around $2750 which is several thousand below our monthly expenses.
The marketing effort is going well enough. Signups are increasing each month. July is going to be a record month. Our content marketing and influencer marketing are starting to materialize after months of brand building. I wrote a post on my personal blog detailing more of the marketing progress we've made: http://www.selfmadebusinessman.com/2015/07/27/ninjaoutreach-6-month-update-progress/
That said, there is still a lot of work to be done. There's very little change that we will hit the $20k goal but I think $10k MRR is very possible (but still far from a given). We're working on integrating with Stripe as well as coming out with some major features to improve the email integration and outreach capabilities.
In summary, while I don't think we're hockey sticking there does seem to be a degree of traction that wasn't here even a month ago, so it will be interesting to see how the next few months play out and if things materialize as they're projected to.
Well - things are going in the right direction for the most part. We've been providing users access to the web app for around two months now and also released a bunch of neat, new features:
ninjaoutreach.com/new-social-search-features-added-to-ninjaoutreach-and-more/
ninjaoutreach.com/new-features-added/
I'm generally pretty hard on the product but I have to say it is starting to look really nice, and honestly even rival some of the competitors in the space that have been around for a few years (i.e BuzzStream). Occassionally, people even come to us after having looked at some very highend products like GroupHigh, and it doesn't always seem to be an obvious choice.
We are also seeing our metrics improve, specifically in July. The free trial to paid conversion has gone up to over 40% which tells us that people just like the product better. Churn is still higher than I'd like, but I think that will take a few months to come down. I suspect it generally lags behind the conversion rate going up, because it's the people now who convert and like the product who are more likely to be sticking around in the long run, I think.
We've hired another developer to work full time on the project and that is really keeping the pace of development strong. I'd say it's finally where it needs to be, which is good, because we can't afford anymore developers lol. The business still runs a negative every month. We're at around $2750 which is several thousand below our monthly expenses.
The marketing effort is going well enough. Signups are increasing each month. July is going to be a record month. Our content marketing and influencer marketing are starting to materialize after months of brand building. I wrote a post on my personal blog detailing more of the marketing progress we've made: http://www.selfmadebusinessman.com/2015/07/27/ninjaoutreach-6-month-update-progress/
That said, there is still a lot of work to be done. There's very little change that we will hit the $20k goal but I think $10k MRR is very possible (but still far from a given). We're working on integrating with Stripe as well as coming out with some major features to improve the email integration and outreach capabilities.
In summary, while I don't think we're hockey sticking there does seem to be a degree of traction that wasn't here even a month ago, so it will be interesting to see how the next few months play out and if things materialize as they're projected to.
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